China liquor maker Wuliangye sees robust profit growth in H1

SHENZHEN - China's leading liquor producer Wuliangye Yibin Co Ltd reported a 31.3 percent growth in its net profit in the first half of 2019.

The company's net profit jumped to 9.3 billion yuan ($1.3 billion) from 7.1 billion yuan in the same period last year, according to its interim results report filed to the Shenzhen Stock Exchange on Friday.

Its revenue grew 26.8 percent year-on-year to 27.2 billion yuan in the first six months.

The liquor maker attributed its solid profit and revenue growth to both sales volume growth and price hikes of its core product as well as its optimized product structure.